535A.9 Tying arrangements prohibited. 1. A financial institution which makes or offers to make real estate mortgage loans shall not: a. Grant or offer to grant a loan on the prior condition, that the borrower is required to contract with any specific person or organization for either of the following: (1) Services of a real estate agent or broker.(2) Insurance services as an agent, broker, or underwriter.b. Use confidential credit status information that is used for qualifying a person for the purchase of real property for solicitation purposes either directly or indirectly by an affiliatesubsidiary. c. Attempt or permit a real estate or insurance subsidiary to attempt to create the impression in its advertising or in any communication that the customers of the subsidiaryshall have priority access to the funds of the financial institution or are entitled to preferentialinterest rates or other terms. 2. This section does not apply to the Iowa finance authority or a program operated pursuant to chapter 16. 85 Acts, ch 238, §4; 85 Acts, ch 252, §56Referred to in §535A.6, 535A.7 Sat Dec 23 01:37:52 2023 Iowa Code 2024, Section 535A.9 (16, 0)
Iowa Legal Code